An example to illustrate several aspects of optimization theory in Managerial Economics

• Authors: Lahiri Somdeb
• Languages of publication: EN

Abstracts

EN

We provide a single example that illustrates all aspects of linear, integer and dynamic programming, including such concepts such as value of perfect and imperfect information. Such problems, though extremely plausible and realistic are hardly ever discussed in managerial economics.

Keywords

EN

managerial economics; optimization; linear programming; decision making under risk; value of information

• Publisher: Wydawnictwo AGH
• Journal: Managerial Economics
• Year: 2021
• Volume: 22
• Issue: 1
• Pages: 23-34

Dates

published

2021-2021

Contributors

author

Lahiri Somdeb

• PDEU, India

References

• Lahiri, S. (2020) The essential appendix on Linear Programming, [Online] Available at https://www.academia.edu/44541645/The_essential_appendix_on_Linear_Programming) [24 Nov 2020].
• Mote, V.L. and T. Madhavan (2016) Operations Research, New Delhi: Wiley India Pvt. Ltd.
• Petersen Craig, H. and Lewis Cris, W. (1999) Managerial Economics, Third Edition, New Delhi: Prentice-Hall of India Private Limited.
• Shenoy, P.P. (1998) ‘Game Threes for Decision Analysis’, Theory and Deci-sion, vol. 44, No. 2, pp. 149–171.